A lot is taken into consideration when someone is deciding where to put down roots: schools, business opportunities, neighborhood safety, and so much more. And the same goes for the wealthy, whether they're choosing the locale of their primary home or a vacation spot.

In order to determine where the world's richest people are flocking to, research firm Wealth-X collected data on the residential addresses of individuals with a net worth of $30 million or more.

As for the number one spot, New York City has the greatest population of ultra high net worth (UHNW) property owners in the world.

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Here is a list of the 11 cities where the most affluent people in the world own a home: